Connor Clark & Lunn Investment Management Ltd. Makes New $301.99 Million Investment in Cameco Corporation $CCJ

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,965,721 shares of the basic materials company’s stock, valued at approximately $301,990,000. Connor Clark & Lunn Investment Management Ltd. owned 0.68% of Cameco as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Clearstead Advisors LLC lifted its holdings in Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after acquiring an additional 85 shares during the period. HB Wealth Management LLC boosted its position in Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 107 shares in the last quarter. Groupama Asset Managment grew its stake in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 108 shares during the period. S.A. Mason LLC increased its holdings in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 111 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in shares of Cameco by 3.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 0.0%

CCJ opened at $102.55 on Monday. The company has a market cap of $44.66 billion, a PE ratio of 173.81, a price-to-earnings-growth ratio of 1.75 and a beta of 1.05. Cameco Corporation has a twelve month low of $72.75 and a twelve month high of $135.24. The company has a 50-day moving average price of $96.21 and a 200 day moving average price of $107.40. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The firm had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CCJ shares. Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Truist Financial upped their price objective on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Finally, Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco has an average rating of “Moderate Buy” and an average target price of $145.68.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.